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China Would Further Open Financial Market: President Jiang

Chinese President Jiang Zemin met Friday with Sanford Weill, chairman and CEO of the United States Citigroup Inc., and fellow board members of the group.

Jiang congratulated Weill on the 100th anniversary of Citigroup's first presence in China, and expressed his appreciation for its active cooperation with Chinese counterparts.

Jiang explained to Weill China's economic development and the opening and reform drive, saying that China's entry into the World Trade Organization had provided new opportunity for developing Sino-US economic and trade cooperation.

He stressed that China would further open its financial market step by step, actively develop new models and new channels for using foreign capital, and provide foreign enterprises with more business opportunities. He expressed the hope that the Citigroup would continue to actively participate in China's modernization.

Weill outlined Citigroup's business development in China, adding that China's economic development had maintained good momentum and was very impressive. Citigroup was keen to cooperate with China and would expand its presence in the country.

(People's Daily March 22, 2002)

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